Trumps’ American Bitcoin sinks 8.4% ahead of reverse stock split to stay listed
The Trump sons' American Bitcoin hit a low on Wednesday ahead of the company’s reverse stock split, which aims to buoy shares and keep it on the Nasdaq.
Long-term holding wallets have shifted to net accumulation from net distribution, according to Glassnode.
Bitcoin climbed back above $60,000 for the first time in over a week after Fed Chair Kevin Warsh said inflation risks had come down.
July 2, 2026, 5:22 amThe June close above realized price but below the 200-week moving average “signals the bear bottom is still ahead per prior cycles,” one analyst said.
July 2, 2026, 3:42 amThe Trump sons' American Bitcoin hit a low on Wednesday ahead of the company’s reverse stock split, which aims to buoy shares and keep it on the Nasdaq.
Bitcoin retreated toward $58K despite improving financial conditions, highlighting an unusual market divergence. Analysts said persistent crypto-specific selling, rather than broader macroeconomic pressure, has kept the asset disconnected from equities, Treasury yields, and gold.
The liquidation event highlights the volatility and interconnectedness of crypto with broader financial markets, impacting investor strategies.
A peer-reviewed study validates the Bitcoin Power Law, linking BTC's long-term growth to network adoption math.
Bitcoin remains under pressure as institutional distribution outpaces Spot buying, raising the risk of further downside.
American Bitcoin Corp. (NASDAQ: ABTC) has announced it is conducting a reverse stock split, which will be effective July 2, 2026. The Trump-backed firm effectively entered crisis management mode to avoid getting delisted from Nasdaq after its shares fell below the admittance threshold.
Bitcoin found its footing after bulls took steps to reclaim the $60,000 level, but data casts doubt on whether it will flip back to support.
Centralized exchanges reportedly saw notable 24-hour withdrawals led by USDC and Bitcoin as traders moved funds off platforms.
Bitcoin mining firm American Bitcoin fell to a new low price Wednesday, one day before executing a 1-for-15 reverse stock split.